Ecuador is a country in South America. The country's largest exports are oil and agricultural products such as bananas and seafood. [1] The COVID-19 pandemic in Ecuador and declining oil prices have greatly strained the business environment. [2]
For further information on the types of business entities in this country and their abbreviations, see "Business entities in Ecuador".
This list includes notable companies with primary headquarters located in the country. The industry and sector follow the Industry Classification Benchmark taxonomy. Organizations which have ceased operations are included and noted as defunct.
| Name | Industry | Sector | Headquarters | Founded | Notes |
|---|---|---|---|---|---|
| Correos del Ecuador | Industrials | Delivery services | Quito | 1831 | Postal services |
| CNT EP | Telecommunications | Fixed line telecommunications | Quito | 2008 | State telecom |
| Ecua-Andino Hats | Consumer goods | Clothing & accessories | Guayaquil | 1985 | Hat makers |
| Ecuavisa | Consumer services | Broadcasting & entertainment | Quito | 1967 | Television programming |
| Marathon Sports | Consumer services | Specialty Retailers | Quito | 1981 | Sporting goods retailer |
| Petroecuador | Oil & gas | Exploration & production | Quito | 1989 | State oil and gas, OPEC member |
| TAME | Consumer services | Airlines | Quito | 1962 | Airline |
| Tía | Consumer services | Broadline retailers | Quito | 1940 | Food retailing (supermarket chain) |
| Tonicorp | Dairy products | Milk | Drinks |
The economy of Ecuador is the eighth largest in Latin America and the 69th largest in the world by total GDP. Ecuador's economy is based on the export of oil, bananas, shrimp, gold, other primary agricultural products and money transfers from Ecuadorian emigrants employed abroad. In 2017, remittances constituted 2.7% of country's GDP. The total trade amounted to 42% of the Ecuador's GDP in 2017.
The economy of Russia has gradually transformed from a planned economy into a mixed market-oriented economy. It has enormous natural resources, particularly oil and natural gas. It is the world's 11th-largest economy by nominal GDP, and 6th-largest by purchasing power parity (PPP). Due to a volatile currency exchange rate, Russia's GDP as measured in dollars fluctuates sharply. Russia's membership to the WTO was accepted in 2011.
The economy of Saudi Arabia is the largest in the Middle East and the eighteenth largest in the world. A permanent and founding member of OPEC, Saudi Arabia is also a member of the G20 forum as one of the world's largest economies.
The economy of Uruguay features an export-oriented agricultural sector and a well-educated workforce, along with high levels of social spending. Tourism and banking are also prominent sectors; Uruguay acts as a regional hub for international finance and tourism. The country also has a history and representation of advanced workers-rights protection, with unions and the eight-hour work-day protected at the beginning of the 20th century.
The economy of Norway is a highly developed mixed economy with state-ownership in strategic areas. Although sensitive to global business cycles, the economy of Norway has shown robust growth since the start of the industrial era. The country has a very high standard of living compared with other European countries, and a strongly integrated welfare system. Norway's modern manufacturing and welfare system rely on a financial reserve produced by exploitation of natural resources, particularly North Sea oil.
The economy of Bolivia is the 95th-largest in the world in nominal terms and the 87th-largest in purchasing power parity. Bolivia is classified by the World Bank to be a lower middle income country. With a Human Development Index of 0.703, it is ranked 114th. Driven largely by its natural resources, Bolivia has become a region leader in measures of economic growth, fiscal stability and foreign reserves, although it remains a historically poor country. The Bolivian economy has had a historic single-commodity focus. From silver to tin to coca, Bolivia has enjoyed only occasional periods of economic diversification. Political instability and difficult topography have constrained efforts to modernize the agricultural sector. Similarly, relatively low population growth coupled with low life expectancy has kept the labor supply in flux and prevented industries from flourishing. Rampant inflation and corruption previously created development challenges, but in the early twenty-first century the fundamentals of its economy showed unexpected improvement, leading Moody's Investors Service to upgrade Bolivia's economic rating in 2010 from B2 to B1. The mining industry, especially the extraction of natural gas and zinc, currently dominates Bolivia's export economy.
A state-owned enterprise (SOE) is a government entity which is established or nationalised by the national government or provincial government, by an executive order or an act of legislation, in order to earn profit for the government, control monopoly of the private sector entities, provide products and services to citizens at a lower price, implementation of government schemes and to deliver products and services to the remote locations of the country. The national government or provincial government has majority ownership over these state owned enterprises. These state owned enterprises are also known as public sector undertakings in some countries. Defining characteristics of SOEs are their distinct legal form and possession of financial goals and developmental objectives, SOEs are government entities established to pursue financial objectives and developmental goals.
Nationalization is the process of transforming privately-owned assets into public assets by bringing them under the public ownership of a national government or state. Nationalization contrasts with privatization and with demutualization. When previously nationalized assets are privatized and subsequently returned to public ownership at a later stage, they are said to have undergone renationalization. Industries often subject to nationalization include telecommunications, electric power, fossil fuels, railways, airlines, iron ore, media, postal services, banks, and water, and in many jurisdictions such entities have no history of private ownership.
NNPC Limited is a for profit oil company in Nigeria. Formerly a government-owned corporation, it was transformed from a corporation to a limited liability company in July 2022. NNPC Limited is the only entity licensed to operate in the country's petroleum industry. It partners with foreign oil companies to exploit Nigeria's fossil fuel resources.
Ceylon Petroleum Corporation, commonly known as CEYPETCO (CPC), is a Sri Lankan oil and gas company. Established in 1962 and wholly owned by the Government of Sri Lanka, it is largest oil company in the Sri Lanka. It was formed in 1961 by nationalisation and expropriation of all private oil companies in Sri Lanka at the time of its formation. It is under the ownership of Ministry of Petroleum Resources Development headquartered in Colombo. It is the largest government owned company in the country, with an operational profit of Rs. 33.9 billion for the financial year 2020.
The COVID-19 recession, also known as the Great Lockdown, was a global economic recession caused by the COVID-19 pandemic. The recession began in most countries in February 2020. After a year of global economic slowdown that saw stagnation of economic growth and consumer activity, the COVID-19 lockdowns and other precautions taken in early 2020 drove the global economy into crisis. Within seven months, every advanced economy had fallen to recession.